MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

DIO MEDICAL CO., LTD.

 

 

Registered Office :

190-1, Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea Rm. 103, Mega Center, SKn Techno Park 462-721

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

11.10.2006

 

 

Com. Reg. No.:

212-81-77552

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Orthopedic Appliances; and Appliances and Supplies to Compensate for Disability

 

 

No. of Employees :

23

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Slow but Correct

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

south korea - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

Source : CIA

 

Basic Information

 

Basic

 

Company Name

DIO MEDICAL CO., LTD.

Registered Address

190-1, Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea

Building

Rm. 103, Mega Center, SKn Techno Park

Zip Code

462-721

Tel

+82-31-776-3690

Fax

+82-31-776-3691

E-mail

diome4u@gmail.com

Trading Address

Rm. 103, Mega Center, SKn Techno Park, 190-1, Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea

Tel

+82-31-776-3690

Fax

+82-31-776-3691

Type

Export/Import

Industry

Manufacture of Orthopedic Appliances; and Appliances and Supplies to Compensate for Disability

  Main Business

Implant, Spine Fixation System, Vertebral Body Fixation Cage, Surgical Instruments

Established (mm/dd/yyyy)

11/10/2006

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Back or lumbar or sacral orthopedic softgoods(42241802)

Sell

Surgical equipment and accessories and related products(42295100)

 

 

CEO’s

 

Name

Kim Jong-Woo

Address

Suite 608-2105, 248, Jeongjail-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

07/15/1972

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

797,440,000

Employees

23

Formation

Co., Ltd by Shares

Venture Business

Bank Details

Shinhan Bank

Corporate Registered No.

1101113-559238

Business Registered No.

212-81-77552

Permit & Licenses

2002 ISO 9001

2008 CE Mark

 

Int’l Trade No.: 45364815

Shareholder Position

N/A

Company History

11/10/2006 Incorporated as the present name

11/12/2007 Designated as a Venture Business

2007 Designated as an INNO-BIZ Company

01/12/2007 Moved to the present HQ address from 318-6, Sangil-dong, Gangdong-gu, Seoul, Korea

05/09/2012 Designated as a Venture Business

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Jong-Woo

Male

Korean

11/10/2006

Director

Mr.

Moon Jin-Tae

Male

Korean

11/10/2006

Outside Director

Mr.

Sun Dong-Yoon

Male

Korean

02/27/2008

Auditor

Mr.

Kim Il-Kyu

Male

Korean

11/10/2006

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

4,742,000,000

5,189,000,000

399,000,000

2011

4,794,000,000

5,402,000,000

397,000,000

2010

4,251,000,000

3,680,000,000

201,000,000

2009

3,504,000,000

3,587,000,000

95,000,000

2008

1,977,000,000

3,171,000,000

71,000,000

2007

877,000,000

2,826,000,000

-

2006

 

 

 

 

 

Financial Description

 

Authorized Capital(KRW)

5,000,000,000

Paid-Up Capital(KRW)

797,440,000

Total Issued Shares

159,488

 

Balance Sheet

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Total Assets

5,189,000,000

5,402,000,000

3,680,000,000

Current Assets

3,169,000,000

4,088,000,000

2,262,000,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

2,020,000,000

1,314,000,000

1,418,000,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

3,220,000,000

3,826,000,000

2,499,000,000

Current Liabilities

695,000,000

957,000,000

854,000,000

Fixed Liabilities

2,525,000,000

2,869,000,000

1,645,000,000

Capital Stock

797,000,000

797,000,000

797,000,000

Capital Surplus

-

-

-

Profit Surplus

-

-

-

Capital Adjustment

-

-

-

Total Equity

1,969,000,000

1,576,000,000

1,181,000,000

Liab. & Shareholder’s Equity

5,189,000,000

5,402,000,000

3,680,000,000

 

Income Statement

Unit : Korean Won

As of 12/31/2012

As of 12/31/2011

As of 12/31/2010

Sales

4,742,000,000

4,794,000,000

4,251,000,000

Cost of Sold Goods

3,004,000,000

3,072,000,000

2,938,000,000

Gross Profit

1,738,000,000

1,722,000,000

1,313,000,000

Selling & Admin. Expenses

1,174,000,000

1,241,000,000

1,032,000,000

Operating Income

564,000,000

481,000,000

281,000,000

Non-Operating Income

58,000,000

84,000,000

50,000,000

Non-Operating Expenses

223,000,000

168,000,000

129,000,000

Income Before Taxes

399,000,000

397,000,000

201,000,000

Income Taxes Expenses

-

-

-

Net Income

399,000,000

397,000,000

201,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Implant, Spine Fixation System, Vertebral Body Fixation Cage, Surgical Instruments

 

 

Trade Partners & Competitors

 

Competitors

ZIMMER KOREA CO., LTD.

17TH FL., SEONGWON BLDG., 141, SAMSEONG 2-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-538-8111  FAX:+82-2-554-2241

 

BIOMET KOREA CO., LTD.

11TH FL., LINE BLDG., 823-30, YEOKSAM 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-567-8550  FAX:+82-2-567-8551

 

EVERGREEN CORPORATION

RM. 204, SUSEO TOWER, 725, SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3452-6000  FAX:+82-2-3452-0999

 

EMK CO.

RM. B-744, LG SUNNUNG ECLART, 142-3, SAMSEONG-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-6025-5850

 

 

News Clipping

 

Not Available.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.